Wall Street analysts forecast that Commercial Metals (NYSE:CMC) will post $0.26 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Commercial Metals’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.20. Commercial Metals reported earnings of $0.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 4%. The business is expected to announce its next earnings results before the market opens on Thursday, March 22nd.

On average, analysts expect that Commercial Metals will report full-year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.09 to $1.82. For the next financial year, analysts anticipate that the firm will report earnings of $2.16 per share, with EPS estimates ranging from $1.55 to $3.04. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Commercial Metals.

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Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Wednesday, January 3rd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year.

A number of equities analysts recently issued reports on CMC shares. Bank of America raised Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Zacks Investment Research lowered Commercial Metals from a “hold” rating to a “sell” rating in a report on Thursday, December 28th. ValuEngine raised Commercial Metals from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase & Co. raised Commercial Metals from a “neutral” rating to an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and a consensus target price of $21.88.

In other Commercial Metals news, VP Adam R. Hickey sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $25.85, for a total value of $517,000.00. Following the completion of the sale, the vice president now directly owns 15,632 shares in the company, valued at $404,087.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy L. Porter sold 13,601 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $25.04, for a total value of $340,569.04. Following the completion of the sale, the executive vice president now owns 10 shares of the company’s stock, valued at $250.40. The disclosure for this sale can be found here. Insiders sold 60,536 shares of company stock valued at $1,541,915 over the last 90 days. 1.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Commercial Metals by 2.3% in the fourth quarter. BlackRock Inc. now owns 14,686,246 shares of the basic materials company’s stock worth $313,111,000 after purchasing an additional 333,388 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Commercial Metals by 0.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 4,471,335 shares of the basic materials company’s stock valued at $85,090,000 after acquiring an additional 35,385 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Commercial Metals by 9.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,293,028 shares of the basic materials company’s stock valued at $70,207,000 after acquiring an additional 274,883 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Commercial Metals by 36.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,035,305 shares of the basic materials company’s stock valued at $38,732,000 after acquiring an additional 541,829 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Commercial Metals during the 4th quarter valued at $34,374,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Shares of Commercial Metals (NYSE CMC) traded up $0.28 during mid-day trading on Friday, reaching $25.87. The company had a trading volume of 246,833 shares, compared to its average volume of 1,923,416. Commercial Metals has a 1-year low of $17.05 and a 1-year high of $26.72. The company has a market cap of $2,956.61, a price-to-earnings ratio of 26.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.20 and a quick ratio of 2.07.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.